MALIBU, CA– Scheduled to hit newsstands on September 23, the new issue of Robb Report Vacation Homes will offer readers an in-depth look at 10 markets worldwide that present lucrative opportunities for second-home buyers and real estate investors.
The feature story, which runs in the October/November issue, “results from extensive research that investigated more than 50 international locations—from the beach and the mountains, to the city and the desert—before narrowing it down to 10 destinations,” says Robb Report Vacation Homes Senior Editor Samantha Brooks.
“The results of this research pointed to three distinct sectors within the global real estate market: places that are perennially strong; those that have yet to peak and are seemingly undiscovered; and those that offer investment opportunities because their values have dropped,” continues Ms. Brooks.
Five U.S.-based locations (listed alphabetically) have been identified by the editors of Robb Report Vacation Homes:
Aspen/Snowmass Village, Colorado
Although the Aspen market is down slightly when compared with last year, 2007 was the second-best year for home sales ever in Aspen. In Snowmass Village, the average home price was $3.2 million, a 10.5 percent increase from the previous year.
Coeur d’Alene, Idaho
In line with Idaho’s thriving economy, median prices in the state rose more than 50 percent from 2000 to 2006. Those prices have held firm in the state’s booming resort areas, especially the year-round destination of Coeur d’Alene.
The low-end market has dipped significantly in Las Vegas, but home prices at the top of the scale continue to soar. The international demand for Las Vegas real estate—fueled in part by the weak dollar—promises to keep the city’s top-end market strong.
Although single-family home sales are sluggish, demand for Maui condos continues at a blistering pace, surging at a 27 percent increase from a year ago.
Powered by a bloated rate of foreclosures and an overload of condos currently under construction, Miami epitomizes the “buy low, sell high” axiom for potential investors.
International locations identified by Robb Report Vacation Homes:
Like fellow United Arab Emirate Dubai, Abu Dhabi continues to transform its oil-based economy into one driven by banking and tourism. As a result, real estate prices are rising, as evidenced by land value increases of $50 per square foot from 2005 to 2007, coupled with a 22 percent increase in rental prices over the past year and a 53 percent rise in home prices.
Thanks to favorable currency exchange rates, Belize continues to attract Canadian and European home buyers. The result has been a 20 percent annual increase in property values in this emerging market over the past five years.
Enticed by relatively low prices and easy access from Europe, foreigners have been buying vacation homes on Croatia’s Istrian Peninsula since the 1990s. Prices in the region are expected to soar if, as anticipated, Croatia joins the European Union.
Like many Caribbean locations, Curaçao offers Americans and Europeans an attractive exchange rate. Fueling Curaçao’s projected growth is Santa Barbara Plantation, a 1,500-acre resort and residential development, which is scheduled to complete its first houses next year.
St. Kitts and Nevis
A thriving tourism industry and relatively easy access from the United States and London entice potential investors. Those selling points, coupled with an absence of capital gains and inheritance taxes, set the stage for growth in the foreseeable future.
The October/November issue of Robb Report Vacation Homes also will offer readers an abundance of news and features revealing the latest information and trends impacting the international luxury world’s real estate sector.
About Robb Report Vacation Homes
The first of its kind, Robb Report Vacation Homes is the authoritative resource for ultra-affluent homeowners, buyers, and sellers. The magazine addresses the unique needs and interests of this audience with comprehensive coverage of the world’s most exquisite and sought-after vacation properties.
The magazine explores all aspects of second-, third-, and fourth-home ownership, including real estate investment opportunities, tax strategies, maintenance, home security, and estate management. Robb Report Vacation Homes features extraordinary homes around the world, including the very best in beachfront properties, vineyard retreats, ranches, country houses, golf resorts, mountain chalets, and equestrian estates. Robb Report on Vacation Homes